Platinum Investment Management Ltd. Purchases Shares of 1,081 Futu Holdings Limited (NASDAQ:FUTU)

Platinum Investment Management Ltd. purchased a new stake in Futu Holdings Limited (NASDAQ:FUTU) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,081 shares of the company’s stock, valued at approximately $86,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Aspex Management HK Ltd raised its position in shares of Futu by 2.4% during the third quarter. Aspex Management HK Ltd now owns 4,553,023 shares of the company’s stock worth $435,497,000 after purchasing an additional 108,219 shares during the period. Hhlr Advisors LTD. raised its position in Futu by 46.8% in the 3rd quarter. Hhlr Advisors LTD. now owns 1,051,089 shares of the company’s stock valued at $100,537,000 after buying an additional 335,000 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Futu by 502.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 558,746 shares of the company’s stock valued at $53,444,000 after buying an additional 465,961 shares during the last quarter. Geode Capital Management LLC raised its position in Futu by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after buying an additional 17,513 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Futu in the 3rd quarter valued at $39,943,000.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FUTU. JPMorgan Chase & Co. upped their price objective on Futu from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Friday, March 14th. Citigroup downgraded Futu from a “buy” rating to a “neutral” rating and upped their price objective for the company from $79.00 to $95.00 in a research note on Tuesday, November 19th. Finally, UBS Group upped their price objective on Futu from $130.00 to $136.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Futu presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.20.

Futu Stock Performance

Shares of FUTU opened at $114.47 on Wednesday. The stock’s 50-day simple moving average is $102.81 and its 200 day simple moving average is $92.19. The stock has a market capitalization of $15.77 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 0.79 and a beta of 0.78. Futu Holdings Limited has a 52-week low of $51.80 and a 52-week high of $130.88.

Futu Company Profile

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.